Just before midnight, Trump claimed on social media that billions of dollars would start flowing to the United States due to tariffs.
However, although tariffs make exports from countries more expensive and less competitive, they are payable upon import and are generally passed on to the customer.
"The only thing that could stop the greatness of America would be a radical left court that wants to see our country fail," the president wrote in capital letters, referring to an ongoing case before the U.S. Court of Appeals that examines whether he exceeded his authority in imposing "reciprocal" tariffs.
Rates range from 41% for war-torn Syria to 10% for the United Kingdom and will be applied in addition to the usual tariffs on imported products to the United States.
This means that although Brazil's "reciprocal" level is 10%, its total rate is 50% after an executive order imposed an additional 40% tax starting Wednesday related to the lawsuit against the country's former president, Jair Bolsonaro.
The EU is the only trading partner where its base rate - set at 15% after a framework agreement - will include previous tariffs. This means, for example, that cheeses that are normally hit with import duties of 14.9% will be taxed at 15% and not at 29.9%.
Since last Thursday's late announcement, governments around the world have rushed to try to reach agreements to avoid border taxes that they fear will deter investors and cause job losses. đ¶âđ«ïžđ¶âđ«ïž